Bitcoin’s price edged lower on Wednesday, marking its fourth consecutive day of declines, as market caution persisted. The decline was influenced by renewed tariff threats from former U.S. President Donald Trump and market anticipation of the Federal Reserve’s meeting minutes.
The world’s largest cryptocurrency fell by 0.4%, reaching $95,347.50. Despite this decline, Bitcoin remained within a narrow trading range over the past week, indicating a lack of clear market direction. Traders are awaiting further clarity on macroeconomic trends and regulatory developments.
Trump’s Tariff Threats and Federal Reserve Meeting Minutes Awaited
Trump proposed imposing a 25% tariff on imports of automobiles, semiconductors, and pharmaceuticals to protect U.S. industries and encourage companies to relocate their operations domestically. These tariffs are expected to be confirmed on April 2 following a review of U.S. trade policy.
Investors are also closely watching the minutes of the Federal Reserve’s January meeting for insights into the future direction of interest rate policy. Recent economic data and statements from Federal Reserve officials have fueled speculation that interest rates may remain elevated for a longer period than previously expected, potentially strengthening the U.S. dollar and adding further pressure on Bitcoin.
Strategy Announces $2 Billion Fundraising to Expand Bitcoin Holdings
Strategy, formerly known as MicroStrategy, announced plans to raise $2 billion in capital through a private offering of convertible notes. The proceeds will be used to expand the company’s Bitcoin holdings, further reinforcing its commitment to cryptocurrency investments.
